G & L Archibald Limited - Period Ending 2015-04-30

Registration number: SC338566

G & L Archibald Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Borders
TD9 9BD

G & L Archibald Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

G & L Archibald Limited
(Registration number: SC338566)
at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					18,000			24,000
Tangible fixed assets					7,239			4,703
					25,239			28,703
Current assets
Stocks					3,800			4,200
Debtors					31,506			36,409
Cash at bank and in hand					6,234			6,198
					41,540			46,807
Creditors: Amounts falling due within one year					(9,734)			(11,387)
Net current assets					31,806			35,420
Net assets					57,045			64,123
Capital and reserves
Called up share capital		3			100			100
Share premium account					62,470			62,470
Profit and loss account					(5,525)			1,553
Shareholders' funds					57,045			64,123

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 18 January 2016

.........................................
G Archibald
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

G & L Archibald Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plany and Machinery	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

G & L Archibald Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2014		60,000			13,454			73,454
Additions		-			4,209			4,209
At 30 April 2015		60,000			17,663			77,663
Depreciation
At 1 May 2014		36,000			8,751			44,751
Charge for the year		6,000			1,673			7,673
At 30 April 2015		42,000			10,424			52,424
Net book value
At 30 April 2015		18,000			7,239			25,239
At 30 April 2014		24,000			4,703			28,703

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
G Archibald
The loan is unsecured and undated. Interest is charged on over drawn loan balances at 3.25%,per annum	25,573	31,408	31,408	34,772

Page 3